CHICAGO, February 14, 2000-- The Female Health Company (OTC BB:FHCO) today announced net revenues for the first quarter ending December 31, 1999 increased 20 percent to $847,295 from $703,998 in the same period in 1999. Unit sales and orders in house totaled 5.4 million units compared to 3.4 million in the same prior year quarter for an increase of 58 percent.

The results were consistent with the expectations for the quarter, in terms of shipments and orders. The Company expects significant quarter to quarter variation due to the timing of receipt of large orders, subsequent production scheduling, and shipping of products as various countries in the global public sector schedule the introduction of the product in prevention programs under the UNAIDS agreement.

The United Nations recently established a goal to reduce the incidence of HIV/AIDS in young people in developing countries by 25 percent by 2005.

Currently there are only two products that prevent the transmission of HIV/AIDS through sexual intercourse --the latex male condom and the female condom.

The Company is currently in discussion with WHO and UNAIDS regarding the role the female condom can play in achieving the UN goal.

In addition to the new UN goal to reduce HIV/AIDS and expand UNAIDS programs, key events that will affect results in the remaining quarters of fiscal year 2000 include the development of the national prevention program in Brazil, the national consumer launch in Japan and the broadening of the public markets in the United States. The launch in Japan will occur during the last week in April 2000.

Net loss for the fiscal first quarter ending December 31, 1999 increased 39 percent to $1,340,268 ($0.11 per diluted share) compared to a net loss of $962,040 ($0.09 per diluted share) for the same period in fiscal year 1999. The net loss expanded as a result of higher operating expenses and increasing non-operating expenses associated with greater outstanding debt than held during the prior year first quarter.

Selling, general and administrative expenses increased 39 percent as a result of increases in selling, accounting and financing costs. The increase in selling expenses is a result of an expansion of sales staff compared to the prior year period. As a result of additional financing the Company incurred accounting costs and non-cash expenses related to warrants issued for investment service at a cost greater than incurred in the prior fiscal quarter.

Non-operating expenses increased for the current period principally as a result of an existing higher level of debt outstanding existing than the same period last year, due to the issuance of convertible debentures and two additional notes. The result is a larger amount of non-cash expenses incurred from the amortization of discounts on notes payable and convertible debentures than the first quarter of the prior year.

The Female Health Company, based in Chicago, owns certain worldwide rights to The Female Condomä including patents which have been issued in the United States, United Kingdom, Japan, France, Italy, Germany, Spain, The People’s Republic of China, Canada, New Zealand, South Korea and Australia. The Female Condomä is the only available product controlled by a woman that protects against sexually transmitted diseases including HIV/AIDS and unintended pregnancy.

"Safe Harbor" Statement under the Private Securities Litigation Reform Action of 1995: The statements in this release which are not historical fact are forward-looking statements based upon the Company’s current plans and strategies, and reflect the Company’s current assessment of the risks and uncertainties related to its business, including such things as product demand and market acceptance; the economic and business environment and the impact of governmental regulations, both in the United States and abroad; the effects of competitive products and pricing pressures; currency risks; capacity; efficiency and supply constraints; and other risks detailed in the Company’s press releases, shareholder communication and Securities and Exchange Commission filings.

Actual events affecting the Company and the impact of such events on the Company’s operations may vary from those currently anticipated.

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Unaudited Condensed Consolidated Balance Sheet

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Unaudited Condensed Consolidated Income Statement

Contacts: Investors Product Media

William R. Gargiulo, Jr.      Mary Ann Leeper,Ph.D.         Desta Davis

       231.526.1244                        312.280.1119               312.397.6070

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